Kakuzi Ld
29 August 2002
KAKUZI LIMITED
(Coffee, Tea, Livestock, Horticulture, Forestry)
DIVIDEND ANNOUNCEMENT AND EXTRACT FROM THE INTERIM FINANCIAL REPORT
FOR THE PERIOD OF SIX MONTHS TO 30 JUNE 2002
The unaudited results for the Kakuzi Group for the period of six months to
30 June 2002 and the comparative figures for the previous year are as follows:
30 June 2002 30 June 2001
Sh'000 Sh'000
Sales 493,777 640,961
Continuing operations 471,621 582,688
Discontinued operations 22,156 58,273
Operating profit 15,253 31,894
Continuing operations 16,354 35,107
Discontinued operations (1,101) (3,213)
Net finance costs (32,780) (51,598)
Loss before tax (17,527) (19,704)
Continuing operations (13,896) (11,855)
Discontinued operations (3,631) (7,849)
Tax (5,237) 13,073
Loss after tax (22,764) (6,631)
Minority interests (490) 2,780
Loss attributable to the members
of Kakuzi Limited (23,254) (3,851)
Sh Sh
Basic loss per stock unit (1.19) (0.20)
The company experienced difficult trading conditions due to continuing poor
commodity prices during the six month period. As reported in the Annual
Financial Statements for the year ended 31 December 2001, the sale of Garton
Limited was completed on 27 February 2002. In view of the loss we are reporting
for the first six months of the year and the continuing uncertainty as to any
recovery in coffee, tea and pineapple prices during the second half of the year,
the directors do not recommend the payment of an interim dividend.
Dr. T R Fowkes
Chairman
29 August 2002
This information is provided by RNS
The company news service from the London Stock Exchange